eBook Show Me How LIFO Perpetual Inventory The beginning inventory of merchandise at Rhodes Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Date Transaction Number of Units Per Unit Total 72 $21,600 Inventory $300 Apr. 3 360 51,840 144 8 Purchase 96 96,000 1,000 Sale 11 60,000 1,000 60 30 Sale 48,000 400 120 May 8 Purchase 72,000 72 1,000 10 Sale 36,000 36 1,000 19 Sale 52,800 440